Kathimerini Greek newspaper: Bank of Albania “puts in quarantine” Greek private banks

Greek newspaper Kathimerini has published an article which argues that central banks of Balkan countries are keeping under their supervision private Greek banks and branches. According to the article, the Bank of Albania has advised the branches of Greek banks which operate in Albania as second-tier banks, to minimize the risk of the Greek crisis.

The same action have undertake even other central banks of Cyprus, Romania, Serbia, Turkey, Bulgaria and Macedonia, cites the newspaper. Private banks with “Greek capital” must minimize all the risks in cases of any financial accident which can relate to the heavy economic crisis of Greek debts.

These banks should not involve in transactions, treasury bonds, loans or treasury deposits in Greek banks. The Central Banks of Greece’s neighboring countries aim also to minimize the physiological effect that a possible bankruptcy of Greece can have in the branches of Greek banks in the Southeast Europe.

Second tier banks with “Greek capital” have almost 2500 branches in Balkan countries with more than 40 thousands of employees.

News source: Shqiptarja.com
Photo credits: Eneas de Troya (Wikimedia)